Mixed-Use Development Gaining Steam In West Michigan

Recently, West Michigan has been seeing a rise in a certain type of development.
The development type in question is mixed-use development. Mixed-use developments
are real estate developments that include multiple use types. An example
is a real estate project that includes both commercial and residential space.

Kalamazoo is one of the cities in the region that has been seeing a fair
amount of mixed-used development projects in recent times. One wonders
what specific factors are behind the growth of the popularity of this
type of development in midsize cities in West Michigan and how long this
popularity growth will continue.

As is the case with any sort of real estate development, there are many
important issues for developers to address when undertaking a mixed-use
development project. The fact that such projects involve multiple uses
means some rather unique zoning and regulatory issues can arise in relation
to such projects. Properly squaring away such issues can be vital to a
development project going smoothly.

Financing can also be a major issue. One thing that can be a significant
factor when it comes to the financing of these types of projects is state
government incentives. The state will sometimes offer incentives, such
as tax incentives, to developers for projects to develop older properties
into a new mixed-use space.

Given the many issues that can come up and the important nature of such
issues, developers involved in a mixed-use development project may find
value in having the guidance and advice of an attorney with experience
in commercial real estate matters.

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